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CIMA BA3 Exam
Fundamentals of Financial Accounting (Page 12 )

Updated On: 1-Feb-2026
Page 12 of 80
PDF with 393 Questions

There are many types of fraud that can happen within a business. On example could be the theft of cash, concealing the theft by delaying banking or by making up the shortage from other sources.

What is this type of fraud called?

  1. Ghost employee
  2. Theft
  3. Collusion
  4. Teeming and Lading

Answer(s): D



CORRECT TEXT

Refer to the Exhibit.



From the following information, calculate the value of sales for the period:

Value of sales is

  1. See Explanation section for answer.

Answer(s): A

Explanation:

CORRECT TEXT IS: $848386



Refer to the Exhibit.



The Financial Accountant for a company is preparing the monthly bank reconciliation and has extracted the following information:

The correct cash book balance at the month end will be:

  1. $42,870
  2. $41,960
  3. $44,610
  4. $29,140

Answer(s): B



An internal audit is an independent appraisal function established within an organization to examine and evaluate its activities as a service to the organization

Which of the following appoints the internal auditor?

  1. The Board
  2. Finance director
  3. Shareholders
  4. Internal audit manger

Answer(s): D



In accordance with IAS 7 Statements of Cash Flow, which TWO of the following are cash flows presented as investing activities?

  1. Cash paid for additions to property, plant and equipment
  2. Revaluation gam on property, plant and equipment
  3. Interest paid
  4. Dividends paid
  5. Interest received

Answer(s): A,E



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